New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-06-14
coon CROPS PROMISED.

Cheering crop reports in great agricultural
country ought to mean and usually do mean
a broader prosperity for the people. The half
who live by agriculture have moro to sell, and
get but little lower prices for their products
the rest who consume farm products get cheap
or food, cheaper materials for manufacture.
and at the same time have in the wants OLA
generally thriving farming population larger
and better market for manufactured products
and for labor Of all kinds.
The crop reports just issued are much more
promising than were expected two months
ago. Then il was known that there would be
a decrease Of about 2 per cent in acreage OF
winter wheat; now it is known that there Is
an increase Of about 6 per cent in acreage OF
spring wheat. and that the condition OF the
whole crop promises fair yield if the weather
favors until the harvest is completed. AT the
lowest the Government reports would warrant
an estimate of 43O 1000 900 bushels OF wheat,
if no serious injury should be done hereafter
and TO this we must add about 100000
bushels which will remain from previous crops.
so that the supply will probably insure mol
crately cheap bread for the people during the
coming year. AT the same time the supply
will not greatly exceed requirements for home
consumption and for export. This situation
would tend to prevent extreme depression In
price. The best results, both for farmers and
consumers, are realized when the supply does
not vary too widely either way from the
quantity required.
Tho increase in acreage Of cotton. according
to the reports Of "The Commercial
and Financial Chronicle which arc
usually accepted by the trade, is
out PIP per cent. The condition of the
plant at present favors an unusually full yield
reports from all the States being encouraging.
For four years now the Southern producers
have been but moderately rewarded for their
labor, tho average yield having been from
l44 TO 100 pounds TO the acre. against 194
pounds in 1882. If the yield this year, with
tho large acreage, should only reach $50
pounds. it would exceed by about 100000, 900
pounds the crop of 1SS2|S3, the largest ever
grown. That would probably involve much
lower prices than have recently been quoted
in the markets. but most Of the last crop was
sold when the price at Ncw-YorS ranged little
above 9 cents for middling uplands, so that
even at that price the larger yield now deemed
possible would add many millions TO the rc
ccpts of Southern producers AT the same
time full supply Of cotton would mean
cheaper clothing for the millions.
1t happens once moro, however that certain
people have been betting on misfortune, SO
that the cheering news FOR all other Americans
threatens disaster for them. They have by
artificial manipulation forced up the price of
cotton moro than 2 cents per pound since last
December and are supposed TO have large
quantities under their control. The vast sup
ply Of surplus currency poured out by the
Treasury within the last year has made it
easier for these people to borrow money for n
speculation which needed only a national dis
aster, the failure of crop to make 1t com
pletely successful. In tho same way a power
full combination has been manipulating tho
wheat market 1t was said to own, not long
ago. over 40, 900, 900 bushels and it has com
pletely controlled tho market for months, until
within the last few days. But good news for
the country meant such bad news for this
combination that in four days, from June Z
TO June IL, the price fell cents. and 3 SIS
cents during the single session Of the Chicago
Board on Saturday. If the clique really held
as much as was reported, its nominal loss was
alb out 81 ,OOO, 900 on the week, but the decline
was probably caused by the discovery that
1t had been unloading as much as 1t could,
having others to bear the loss. All our In